The Analytical Overview of the Main Currency Pairs on 2018.02.19

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.25034

Open: 1.24016

% chg. over the last day: -0.80

Day's range: 1.24119 – 1.24130

52 wk range: 1.0492 – 1.2537

On Friday, the EUR/USD currency pair decreased due to the strengthening of the US dollar. It was supported by positive statistics on the real estate market. The EUR/USD quotes fell by 150 points. At the moment, the trading instrument is consolidating in the range of 1.24000-1.24300. We recommend you to open positions from these marks.

The news feed on 2018.02.19:

Important economic reports are not planned today. We recommend you to pay attention to the meeting of the Eurogroup. The US financial markets are closed due to the holidays.

The signals of the indicators are different. The price has fixed between 50 MA and 200 MA, which are dynamic support and resistance levels.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell EUR/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which signals to buy EUR/USD.

Trading recommendations

Support levels: 1.24000, 1.23500, 1.23000

Resistance levels: 1.24300, 1.24800, 1.25200

If the EUR/USD currency pair fixes below the round level of 1.24000, we recommend you to consider sales. The movement is tending potentially to 1.23500-1.23300.

Alternative option. If the EUR/USD quotes fix above 1.24300, we recommend looking for entry points to the market to open long positions. The movement is tending potentially to 1.24800-1.25000.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.40964

Open: 1.40115

% chg. over the last day: -0.40

Day's range: 1.40082 – 1.40224

52 wk range: 1.2106 – 1.4345

On Friday, the British pound began to decline against the US dollar after it reached its weekly high. Quotes fell by almost 100 points. Demand for the US dollar remains at a fairly high level. At the moment, local support and resistance levels are: 1.40000 and 1.40400, respectively. We recommend you to open positions above/below these marks.

The publication of important economic reports in the UK is not planned. We recommend you to pay attention to the speech of the governor of the Bank of England Carney.

The price has fixed between 50 MA and 200 MA, which are dynamic support and resistance levels.

The MACD histogram is in the negative zone, below the signal line, which gives a strong signal to sell GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.40000, 1.39500, 1.39000

Resistance levels: 1.40400, 1.40900, 1.41400

If the price fixes below the round level of 1.40000, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.39500-1.39300.

Alternative option. If the price fixes above the resistance level of 1.40400, it is necessary to look for entry points to the market to open long positions. The movement is tending potentially to 1.40900-1.41200.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.24826

Open: 1.25577

% chg. over the last day: +0.63

Day's range: 1.25393 – 1.25528

52 wk range: 1.2059 – 1.3795

On Friday, there was the pronounced upward trend on the USD/CAD currency pair. The growth of quotes was almost 200 points. At the moment, the trading instrument is consolidating in the range of 1.25300-1.25600. The further growth of the USD/CAD quotes is not excluded. We recommend paying attention to the dynamics of oil quotes. Positions must be opened from the key levels.

Financial markets in Canada are closed due to the holiday.

The price is close to 200 MA, which is a strong dynamic resistance.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which signals to buy USD/CAD.

Trading recommendations

Support levels: 1.25300, 1.25000, 1.24700

Resistance levels: 1.25600, 1.25900, 1.26200

If the USD/CAD quotes fix above the level of 1.25600, we recommend looking for entry points to the market to open long positions. The movement is tending potentially to 1.25900-1.26200.

Alternative option. If the price fixes below the support level of 1.25300, the quotes are expected to decline to 1.25000-1.24700.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 106.116

Open: 106.297

% chg. over the last day: +0.18

Day's range: 107.278 – 107.489

52 wk range: 107.33 – 115.51

On Friday, USD/JPY began to recover after a long decline. The further growth of the USD/JPY currency pair is not excluded. At the moment, local support and resistance levels are: 106.250 and 106.700, respectively. We recommend you to pay attention to the 10-year US government bonds yield. Positions must be opened from the key levels.

During the Asian trading session, positive data on Japan's trade balance were published.

The price has fixed between 50 MA and 200 MA, which are dynamic support and resistance levels.

The MACD histogram is in the positive zone, above the signal line, which gives a strong signal to buy USD/JPY.

Stochastic Oscillator is located in the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 106.250, 105.650

Resistance levels: 106.700, 107.400, 108.100

If the quotes continue to rise and fix above the 106.700 mark, it is necessary to consider purchases of USD/JPY. The movement is tending potentially to the round level of 107.000-107.400.

If the price fixes below the already "mirror" support of 106.250, we recommend you to look for entry points to the market to open short positions. The target movement level is 105.650.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.